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in event of failure

Yes it will.

The only ones that would prevent losing your item are Eweca Red Upgrade Stones of Protection. (We seem to be lacking info on those atm)

Snowie (talk)‎16:24, 24 August 2017
Retrieved from "https://wiki.mabinogiworld.com/view/Thread:Talk:Eweca_Red_Upgrade_Stone/in_event_of_failure/reply#in_event_of_failure_43241"